Note 16 - Comprehensive Income

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Comprehensive Income (Loss) Note [Text Block]

Note 16 – Comprehensive Income

Total comprehensive income includes all changes in equity during a period from transactions and other events and circumstances from non-owner sources. The Company’s other comprehensive income is comprised of unrealized holding gains and losses on securities available-for-sale, unrealized gains and losses on cash flow hedges, obligations for defined benefit pension plan and an adjustment to reflect the curtailment of the Company’s defined benefit pension plan, each net of taxes.

The following table represents the reclassification out of accumulated other comprehensive (loss) income for the periods presented:

										Affected Line Item in the
Details about Accumulated Other	Amounts Reclassified from Accumulated									Consolidated
Comprehensive Income (Loss) Components	Other Comprehensive Income (Loss)									Statements of Income
	For the Year Ended
	December 31,
(dollars in thousands)	2024			2023			2022
Net interest income on derivatives	$	21,762		$	20,230		$	3,243		Interest income
		(6,117	)		(6,086	)		(976	)	Income tax expense
		15,645			14,144			2,267
Amortization of pension plan net actuarial losses		(171	)		(296	)		(66	)	Salaries and employee benefits
		48			89			20		Income tax benefit
		(123	)		(207	)		(46	)
Total reclassification	$	15,522		$	13,937		$	2,221

Accumulated other comprehensive loss as of December 31, 2024 and 2023 consisted of the following:

	2024			2023
	(dollars in thousands)
Investment securities available-for-sale, net of tax	$	(69,632	)	$	(57,835	)
Derivatives, net of tax		22,481			24,810
Defined benefit pension, net of tax		(695	)		(2,084	)
Total	$	(47,846	)	$	(35,109	)